Dropbox (NASDAQ:DBX) CTO Sells $165,390.54 in Stock

Dropbox, Inc. (NASDAQ:DBX) CTO Ali Dasdan sold 5,666 shares of Dropbox stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $29.19, for a total value of $165,390.54. Following the transaction, the chief technology officer directly owned 526,140 shares of the company’s stock, valued at $15,358,026.60. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ali Dasdan also recently made the following trade(s):

• On Tuesday, November 18th, Ali Dasdan sold 5,666 shares of Dropbox stock. The stock was sold at an average price of $29.19, for a total transaction of $165,390.54.
• On Monday, September 8th, Ali Dasdan sold 12,812 shares of Dropbox stock. The stock was sold at an average price of $30.00, for a total value of $384,360.00.

Dropbox Trading Down 1.0%

Shares of NASDAQ DBX traded down $0.28 during trading on Wednesday, reaching $29.19. The company had a trading volume of 3,447,447 shares, compared to its average volume of 3,657,548. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33. The stock has a 50-day moving average price of $29.90 and a two-hundred day moving average price of $28.87. The stock has a market capitalization of $7.55 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 2.54 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. Dropbox has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Hedge Funds Weigh In On Dropbox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. LSV Asset Management grew its position in Dropbox by 38.1% in the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock worth $350,848,000 after buying an additional 3,205,140 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Dropbox in the 2nd quarter worth about $56,911,000. Norges Bank purchased a new position in Dropbox in the 2nd quarter worth about $51,307,000. Seizert Capital Partners LLC raised its holdings in Dropbox by 524.8% during the 1st quarter. Seizert Capital Partners LLC now owns 1,879,374 shares of the company’s stock worth $50,198,000 after buying an additional 1,578,566 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of Dropbox by 47.8% in the third quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company’s stock worth $64,164,000 after acquiring an additional 686,577 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DBX shares. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and reduced their target price for the company from $29.00 to $27.00 in a report on Thursday, September 18th. Royal Bank Of Canada boosted their price target on Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.75.

About Dropbox

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.